Personal Loan EMI Calculator
Work out the monthly EMI on a personal loan, the total interest, and how every payment splits between interest and the loan. The result updates as you type.
Loan amount Interest
Year-by-year repayment
How each year's EMIs split between interest and the loan itself, and what you still owe at the end of the year.
| Year | Interest paid | Loan repaid | Still owed |
|---|
Show the month-by-month schedule
| Month | Interest | Loan repaid | Still owed |
|---|
EMI for common loan amounts
Illustration at 12% a year, reducing balance. Your rate will differ, so use the calculator above for your own numbers.
| Loan | 1 years | 2 years | 3 years | 5 years | 7 years |
|---|---|---|---|---|---|
| ₹1 lakh | ₹8,885 | ₹4,707 | ₹3,321 | ₹2,224 | ₹1,765 |
| ₹2 lakh | ₹17,770 | ₹9,415 | ₹6,643 | ₹4,449 | ₹3,531 |
| ₹3 lakh | ₹26,655 | ₹14,122 | ₹9,964 | ₹6,673 | ₹5,296 |
| ₹5 lakh | ₹44,424 | ₹23,537 | ₹16,607 | ₹11,122 | ₹8,826 |
| ₹10 lakh | ₹88,849 | ₹47,073 | ₹33,214 | ₹22,244 | ₹17,653 |
| ₹15 lakh | ₹1,33,273 | ₹70,610 | ₹49,821 | ₹33,367 | ₹26,479 |
| ₹20 lakh | ₹1,77,698 | ₹94,147 | ₹66,429 | ₹44,489 | ₹35,305 |
This is an illustration on a reducing-balance rate. Personal loan rates vary a lot by lender and by your credit profile, and processing fees and insurance add to the real cost. Compare offers on the all-in annual percentage rate, not the EMI alone.
How this is calculated
The calculator uses the reducing-balance formula lenders use for EMI loans. Each month, interest is charged on the balance still owed, and the rest of the EMI pays the loan down.
Watch for a flat rate
Some lenders quote a flat rate, which charges interest on the full loan for the whole term. It sounds cheaper than it is. Illustration on 5 lakh rupees for 3 years:
| Quoted rate | EMI | Total interest |
|---|---|---|
| 10% reducing | ₹16,134 | ₹80,809 |
| 10% flat | ₹18,056 | ₹1,50,000 |
The 10% flat loan costs the same as a reducing rate of about 17.9%. Ask the lender for the reducing rate, or check the annual percentage rate in the loan's Key Fact Statement, which RBI requires lenders to give before you sign.
A worked example
Illustration: 5 lakh rupees at 12% a year.
- Over 3 years, the EMI is about ₹16,607 and the total interest about ₹97,858.
- Over 5 years, the EMI drops to about ₹11,122, but the total interest rises to about ₹1.67 lakh.
A longer tenure eases the monthly budget but costs more overall. Borrow only what you need, for the shortest tenure you can comfortably afford.
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Questions people ask
How is personal loan EMI calculated (personal loan EMI kaise calculate kare)?
Lenders use the reducing-balance formula: EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r is the yearly rate divided by 12 and by 100, and n is the number of months. Each month, interest is charged only on what you still owe. Enter your loan above to see the EMI and the full schedule.
What is the difference between a flat rate and a reducing rate?
A flat rate charges interest on the full original loan for the whole term, even as you repay it. A reducing rate charges interest only on the balance still owed. The same number costs far more as a flat rate: in the illustration on this page, a 10% flat rate on 5 lakh rupees for 3 years works out to about 17.9% on a reducing basis.
Can I see the month-wise EMI schedule?
Yes. Below the calculator, open "Show the month-by-month schedule" to see every EMI split into interest and principal, and the balance left after each month.
Can I repay a personal loan early?
Usually yes, but most personal loans have a fixed rate, and lenders may charge a fee for paying early. The charge, if any, should be in your loan agreement and Key Fact Statement. Check it before you prepay.